City set to hear long-awaited details on Tidewater Landing

City set to hear long-awaited details on Tidewater Landing

A rendering of the soccer stadium portion of the Tidewater Landing project on the Seekonk River.

PAWTUCKET – City leaders will hear their first in-depth public briefing on the progress of the Tidewater Landing riverfront development project this week.

A presentation from Fortuitous Partners to the Pawtucket City Council tonight, Sept. 23, will focus on an update of the soccer stadium project, site plans, and a discussion on a lease agreement. It is the first of many updates that will be provided to the council and the public, according to representatives from Fortuitous.

Brett Johnson, of Fortuitous, will give introductory remarks, and then Dan Kroeber, of Milone & MacBroom and Fortuitous Partners, will go over the history of the project announced last December, including the due diligence process with the city and Commerce Rhode Island, an overview of site investigations and engineering studies, and conversations to begin coordination with the Narragansett Bay Commission, Pawtucket Water Supply Board, Coastal Resources Management Council and Rhode Island Department of Environmental Management.

The City Council approved a lease option with Fortuitous in May, and the company has been coordinating with National Grid on cleanup, scheduling, and lease terms.

The next major steps are a review of the lease with the City Council and a master development agreement with the city and Commerce Rhode Island, at which point the council will get another update.

The site for the multi-faceted project, including an event center and athletic facilities, by all accounts still doesn’t include the Apex Department Store site, where the owner has been reluctant to part with the property. Johnson has emphasized that he can do his project with or without the Apex site, a contrast to a previous failed baseball stadium project that was centered at Apex.

A joint statement on Tidewater Landing from Commerce Rhode Island, the city of Pawtucket and Fortuitous Partners last week stated that the parties have remained hard at work preparing to bring “a world-class development to Pawtucket’s riverfront despite unprecedented times.”

The parties have now moved out of the due diligence phase of the project, and the city and state will continue to proceed exclusively with Fortuitous. It is expected that over the next two months, the parties will finalize negotiations on the financial terms of the project. Meanwhile, the long-planned cleanup of the National Grid portion of the Tidewater site will begin by the end of the year. Grid and Fortuitous have also established a timeline for signing a final lease.

In an update to the council leading up to tonight’s meeting, Mayor Donald Grebien said development of the overall plan and structure of the project has made great progress in recent months and continues to move full-speed ahead.

“It will transform our riverfront into the premier family destination in the region,” said Grebien.

Pawtucket has maintained the goal of unlocking the potential of the Seekonk River on both sides, and Tidewater Landing positions the city to realize that goal, he said, as well as create housing and jobs.

The wide-ranging review of plans since last December has focused on legal, financial, real estate, development and engineering perspectives. He said the more than $300 million project is “extremely complex,” including retail, residential, hotel, office and entertainment space.

Comments

Just another slap in the face to the (former) PawSox by calling it Tidewater Landing, since the Tidewater Tides were a long time rival in the Mets farm system.